ICEC

Madinet Nasr’s net profit surges 15 % in 2015

Egyptian real estate firm Madinet Nasr for Housing and Development (MNHD)’s net profit rose by 15.14 percent during 2015, according to its consolidated results.

The company reported 2015 net profit of 245 million Egyptian pounds ($30.6 million) versus 213 million pounds a year earlier.

Furthermore, the company’s Sales in 2015 reach 748 million pounds versus 743 million pounds a year earlier.

In addition, MNHD registered revenues of 748.362 million Egyptian pounds in 2015 versus 743.85 million Egyptian pounds in 2014 with growth rate of 0.61 percent.

On the other hand, the company recorded net profit after taxes of 233 million Egyptian pounds in 2015 compared to 186.756 million the previous year.

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